Indiana Real Estate Broker Exam — All Questions
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Indiana real estate licensing is regulated by the Indiana Real Estate Commission, which operates under the:
- a.Indiana Professional Licensing Agency (PLA)✓
- b.U.S. Department of Housing and Urban Development
- c.National Association of REALTORS
- d.local multiple listing service
The Indiana Real Estate Commission sets licensing and practice standards, and the Indiana Professional Licensing Agency (PLA) provides its administrative support, processing applications, renewals, and enforcement under Indiana Code Title 25.
In Indiana, the entry-level real estate license (the level a new practitioner earns to begin working under supervision) is called a:
- a.Salesperson
- b.Broker✓
- c.Affiliate broker
- d.Associate
Indiana consolidated its licensing so the entry-level license is titled 'broker.' A new Indiana broker must work under a 'managing broker.' Indiana no longer issues a 'salesperson' license, unlike many other states, though the role is functionally the equivalent.
An Indiana broker must conduct licensed real estate activities under the supervision of a:
- a.Managing broker✓
- b.Attorney
- c.The Indiana Real Estate Commission directly
- d.No one; brokers work fully independently
In Indiana, a licensed broker affiliates with and is supervised by a managing broker, who is responsible for the broker's activities and for the company's trust funds and records. A new broker cannot operate independently until qualifying as a managing broker.